Car sales up 4th straight month
A strong revival in demand for petrol cars, which have benefited from incremental diesel prices and improving consumer sentiment, saw passenger vehicle sales grow for the fourth successive month in August.autos Updated: Sep 02, 2014 10:48 IST
A strong revival in demand for petrol cars, which have benefited from incremental diesel prices and improving consumer sentiment, saw passenger vehicle sales grow for the fourth successive month in August.
Market leader Maruti Suzuki and rival Hyundai Motor, both proficient in small petrol cars, led the growth with petrol cars accounting for nearly 70% of the sales — the highest level in three years. Maruti registered a 29.3% increase in domestic sales at just under 100,000 units, while Hyundai’s new launches i20 small car and Xcent sedan took it to a 19.2% growth at 33,750 units.
“We continued to build on the positive momentum with an overwhelming response for the new products such as Elite i20, Xcent and the Grand,” said Rakesh Srivastava, senior V-P, sales and marketing, Hyundai India. “We maintain a cautious optimism for a good festive season on the strength of new products, increase in demand for petrol cars and improving customer sentiment.”
With its new launch Mobilio, Honda saw an 88% jump in sales at 16,758 units, making it the clear No. 3 in passenger vehicles.
Tata Motors, however, continued to struggle despite the launch of the Zest sedan, its first new car in five years, as sales declined 5% during the month.
Sales of two-wheelers saw robust growth, with all major manufacturers including Hero, Honda and TVS reporting high double-digit growth. Scooters continued to outpace motorcycles, and with numerous launches over the next month, the stage is set for a bumper festive season for the industry.
First Published: Sep 02, 2014 10:46 IST